Carlyle-backed India’s Logistics Start Up Delhivery to File $bn IPO

Indian logistics and supply chain startup Delhivery plans to file a draft prospectus by October to raise $1bn in IPO.

Founded in 2011 by CEO Sahil Barua, Delhivery is a logistics and supply chain services company in India, backed by the SoftBank Vision Fund, Carlyle Group, Fosun International, Tiger Global and Times Internet and others as investors.

The company handles more than 1.5m packages a day through its 43,000-strong team across India and completed a series H funding round in June led by Fidelity.

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This week, Delhivery has acquired Bangalore-based Spoton Logistics for an undisclosed amount.

Startup is targeting a Mumbai listing before March next year.

Last month, the company announced $100m investment by FedEx subsidiary FedEx Express.

 Source: Seeking Alpha

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